Deprosc Laghubitta Posts Rs. 44.29 Crore Net Profit in Q2 with EPS at Rs 47.41 ; Core Revenue Up by 6.67%

Deprosc Laghubitta Bittiya Sanstha (DDBL) has published its second-quarter report of FY 2082/83 with a rise in Net Profit by 80.30%. As per the report, the net profit increased to Rs. 44.29 crore as compared to Rs. 24.56 crore in the corresponding quarter of the previous year.

The company’s paid-up capital stood at Rs. 1.86 arba, while reserves stood at Rs. 1.49 arba, up 6.28% compared to previous fiscal year. However, retained earnings inclined by 42.35%, amounting to Rs. 85.38 crores compared to 59.98 crores in previous year.

The company’s net interest income surged by 6.67% to Rs. 1.06 arba from Rs. 99.46 crore in the same quarter last year. Loans and advances stood at Rs. 25.45 arba, slightly up by 1.11%, while customer deposits grew by 8.30%, totaling Rs. 11.93 arba. The company recorded a reversal of Rs. 1.01 crore compared to a impairment charges of Rs. 23.37 crore in the same period last year.

The company’s Capital Adequacy Ratio (CAR) improved to 14.12%, up from 12.40%. However, its Non-Performing Loan (NPL) ratio increased to 8.43%, from 6.09% in the previous fiscal year. The cost of funds also improved declining by 13.69% to 7% in this quarter.

The company’s Annualized Earnings Per Share (EPS) for the period stood at Rs. 47.41. The net worth per share remained steady at Rs. 221.13. The company’s Price-to-Earnings (P/E) ratio at the end of the quarter was 17.42 times, based on a market price of Rs. 826 per share.

Report:

Major Financial Highlights:

* Figure is of Immediate Fiscal Year Ending

Particulars (In Rs '000) Deprosc Laghubitta Bittiya Sanstha Limited
Q2 2082/83 Q2 2081/82 Difference
Paid Up Capital 1,868,285.70 1,868,285.70* 0.00%
Share Premium - - -
Retained Earnings 853,855.82 599,824.29* 42.35%
Reserves 1,409,194.70 1,325,969.70* 6.28%
Deposits 11,930,701.92 11,016,415.19* 8.30%
Loans and Advances  25,452,992.79 25,174,234.21* 1.11%
Net Interest Income 1,061,025.57 994,647.04 6.67%
Personal Expenses 399,891.25 377,796.07 5.85%
Impairment Charges/(Reversal) for loans and advances -10,157.45 233,779.90 -104.34%
Operating Profit 629,913.90 367,281.57 71.51%
Net Profit 442,910.64 245,652.14 80.30%
Distributable Profit/(loss) after P/L Appropriation and Regulatory Adjustments 853,855.82 423,042.98 101.84%
Capital Adequancy(%) 14.12 12.40 13.87%
Non-Performing Loan 8.43 6.09 38.42%
Cost of Fund 7.00 8.11 -13.69%
Annualized EPS (In Rs.) 47.41 26.30 80.30%
Net Worth per Share (In Rs.) 221.13 203.08 8.89%
Qtr end PE Ratio (times) 17.42 - 1.00%
Qtr End Market Price 826 - -